Cincinnati Life Insurance Review (2024)
The Cincinnati Insurance Company is one of the best life insurance providers in the United States. Cincinnati life insurance rates start as low as $10.30/mo, but life insurance costs will vary for each person. To secure affordable Cincinnati life insurance, you'll need to have good health and a moderate coverage limit. Cincinnati Insurance currently has an "A+" with A.M. Best.
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UPDATED: Oct 3, 2023
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Total Assets: $15.2 Billion / Direct Premiums Written: $4.3 Billion
- The Cincinnati Insurance Company
- Cincinnati Global Underwriting Ltd.
- CFC Investment Company
- CSU Producer Resources Inc.
- Cincinnati Financial Corp., Asset Management Arm
The Cincinnati Insurance Company is one of the top life insurance companies in the United States.
In addition to life insurance, Cincinnati Insurance Company offers other services that can bundle into your life insurance policy, saving you money each month.
But how much can you save on Cincinnati life insurance rates?
Read through our Cincinnati life insurance review to learn more about Cincinnati life insurance quotes, other products, third-party ratings, and much more.
If the Cincinnati Insurance Company isn’t right for you, enter your ZIP code in the free comparison tool above to compare your local area’s best companies.
What life insurance products does Cincinnati Insurance provide?
Cincinnati Insurance Company provides aircraft, auto, business, commercial auto, earthquake, flood, homeowners, and life insurance.
However, we want to focus on Cincinnati Insurance’s life insurance for this review.
Cincinnati Insurance also provides annuities. If you want to invest in an annuity, learn more about estate planning law.
Here’s a list of life insurance products (called LifeHorizons) you can receive at Cincinnati Insurance Company.
- Termsetter
- Termsetter No-Medical Exam
- Termsetter Return of Premium
- Simplicity Universal Life
- Lifesetter Universal Life
- Guaranteed Whole Life
The “Termsetter” policies are term life insurance that can last up to 30 years depending on your needs. Return of premium policies reimburses all the money you paid throughout the term life policy.
Customize your life insurance with life insurance riders, such as accelerated benefit, children’s term life, accidental death, and disability waiver of premium riders.
The other policies are permanent life insurance opportunities. These policies behave like retirements and last until you pass away.
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How much are Cincinnati life insurance rates?
You can pay as low as $10.30 per month for Cincinnati life insurance. However, cheap Cincinnati life insurance depends on your age, health, and death benefit (coverage amount).
Before you buy Cincinnati life insurance, let’s compare the average cost of Cincinnati insurance rates for males and females by age.
| Age of Policyholder | 10-Year Term Life Insurance Rates for Male Non-Smokers ($100K) | 10-Year Term Life Insurance Rates for Female Non-Smokers ($100K) | 10-Year Term Life Insurance Rates for Male Non-Smokers ($250K) | 10-Year Term Life Insurance Rates for Female Non-Smokers ($250K) | 10-Year Term Life Insurance Rates for Male Smokers ($250K) | 10-Year Term Life Insurance Rates for Female Smokers ($250K) | 20-Year Term Life Insurance Rates for Male Smokers ($500K) | 20-Year Term Life Insurance Rates for Female Smokers ($500K) |
|---|---|---|---|---|---|---|---|---|
| 25 | $10.30 | $9.50 | $13.20 | $12.10 | $28.82 | $23.98 | $65.56 | $48.84 |
| 30 | $10.30 | $9.94 | $13.20 | $12.10 | $29.04 | $23.98 | $70.84 | $57.64 |
| 35 | $10.65 | $10.38 | $14.08 | $13.42 | $34.32 | $28.16 | $87.56 | $73.48 |
| 40 | $12.32 | $11.62 | $17.60 | $16.28 | $49.28 | $35.86 | $127.60 | $105.16 |
| 45 | $14.61 | $13.29 | $23.32 | $19.80 | $67.98 | $52.14 | $212.96 | $156.20 |
| 50 | $18.04 | $15.49 | $29.70 | $25.30 | $98.34 | $75.02 | $311.52 | $226.60 |
| 55 | $22.79 | $19.71 | $41.58 | $34.54 | $149.60 | $109.78 | $508.64 | $341.44 |
| 60 | $32.38 | $24.90 | $63.58 | $49.06 | $233.20 | $157.30 | $760.32 | $526.24 |
| 65 | $53.68 | $36.96 | $107.14 | $78.32 | $374.44 | $232.54 | $1,249.16 | $835.56 |
More death benefits mean higher term life insurance rates per month. However, you can access cheap Cincinnati life insurance if you’re in your mid-20s to early 50s.
Expect your rates to be even higher when you have a $1 million death benefit.
Smokers pay the most for life insurance, though. Senior smokers pay the most for term life insurance, so it may be more cost-efficient to invest in a permanent life insurance policy.
Does Cincinnati Insurance have good financial strength, credit ratings, and customer reviews?
Cincinnati Insurance is also known for its excellent financial strength and credit ratings. Let’s get right into it and look at the ratings from the top financial strength rating agencies.
The ratings in the list all show Cincinnati’s stable financial outlook. Moody’s and S&P interpret Cincinnati Insurance credit rating as stronger than most companies.
What about Cincinnati Insurance customer reviews and complaints?
According to the National Association of Insurance Commissioners (NAIC), Cincinnati Insurance Company has a complaint index of 0.34, an index lower than the average insurance company in 2020.
Although Cincinnati Insurance is an accredited business with an “A+” under the Better Business Bureau (BBB), it has a 1.67 rating from customer reviews.
In the past three years, 12 customers have complained about Cincinnati’s service, and five of those complaints have been resolved.
What is Cincinnati Insurance’s history?
Cincinnati Insurance is an Ohio-based insurance company founded in 1950 by four insurance agents.
The Cincinnati Life Insurance Company focuses on life insurance, disability insurance, and annuities, and it still provides a strong investment pool in 2021.
Cincinnati Financial is Cincinnati Insurance’s parent company.
In 2019, Cincinnati Financial acquired MSP Underwriting – a worldwide specialty underwriter. It was quickly rebranded as Cincinnati Global Underwriters Insurance Company.
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Navigating Cincinnati Life Insurance Claims Process
Ease of Filing a Claim
When it comes to filing a claim with Cincinnati Insurance Company, policyholders have several convenient options. You can initiate the claims process online through their website, file a claim over the phone, or utilize their mobile app for a streamlined experience. This flexibility in claim submission allows customers to choose the method that best suits their preferences and needs.
Average Claim Processing Time
Cincinnati Insurance Company is known for its efficient claims processing. While specific processing times may vary depending on the nature and complexity of the claim, customers can generally expect a prompt response. The company’s commitment to a swift resolution ensures that policyholders can receive the support they need during challenging times without unnecessary delays.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is a valuable indicator of an insurance company’s performance in handling claims. Cincinnati Insurance has garnered positive reviews for its claim resolutions and payouts. The company’s ability to meet its obligations and provide timely payouts has contributed to its reputation as one of the top life insurance providers in the United States.
Unveiling Cincinnati Life Insurance Digital and Technological Advancements
Mobile App Features and Functionality
Cincinnati Insurance offers a user-friendly mobile app that empowers policyholders with convenient features and functionality. Through the app, customers can access their policy information, make premium payments, and even initiate the claims process with just a few taps on their mobile devices. The intuitive interface ensures that managing your insurance needs is at your fingertips.
Online Account Management Capabilities
Managing your Cincinnati Insurance policies and accounts online has never been easier. The company’s online account management portal provides policyholders with a secure platform to view policy details, update personal information, and review billing statements. This digital convenience simplifies the administrative aspects of insurance, allowing customers to have greater control over their coverage.
Digital Tools and Resources
Cincinnati Insurance Company goes beyond the basics, offering a range of digital tools and resources to enhance the insurance experience. Whether you need to generate insurance quotes, access educational materials, or explore additional insurance products, the company’s online resources are readily available to assist you in making informed decisions about your coverage.
Cincinnati Life Insurance: What’s the bottom line?
Cincinnati Insurance may be one of the best companies for life insurance. Try bundling your life insurance with other insurance products to save even more money per year on your policies.
However, your rates are determined by age, health, and coverage limits. Therefore, you can secure cheap Cincinnati life insurance based on specific factors.
You’ve seen what Cincinnati life insurance has to offer. Use our free comparison tool by entering your ZIP code to compare multiple insurance companies in your local area.